Question for the Money Doctors

Question submitted on Jun 12, 2013.

Question

I gifted some money to my daughter 5 years ago. Will this gifted money disallow my granddaughter from receiving college financial aid? This money wss gifted to her to take care of me when the time comes. Thank you, Katy

Answer

No, it won't disallow her from receiving college finacial aid alone but other factors such as her other assets, siblings in college,and (of course) grades could effect her aid.